Cosmos' 3.5% Price Drop to $8.93: Key Takeaways for ATOM Traders

Cosmos' ATOM token has declined 3.5% over the past 24 hours to $8.93 according to the latest market data. Here are some key takeaways for Cosmos traders:

Short-Term Downtrend Remains Intact

ATOM has been in a short-term downtrend for the past few weeks, with prices falling 3.45% over the past 7 days. The 3.5% 24-hour drop extends this downward momentum despite relatively low trading volumes.

Technical indicators remain in bearish territory to reflect the bout of selling pressure. The MACD histogram is printing lower lows while the RSI sits below 50. Previous support around $10 has flipped to resistance.

Major Support Around $8.50 Being Tested

The recent breakdown has Cosmos testing the major support zone around $8.50. This area marks the 2021 highs and has repeatedly held as support this year.

Bulls want to see ATOM reverse higher and reclaim the $8.50 level. Otherwise, additional support sits around $8.00 which could be tested next. Defending $8.50 will be key to prevent further losses.

Broader Altcoin Weakness Weighing on Price

The overall altcoin market has shown weakness amid a skittish macro environment. As risk appetite diminishes, traders have rotated into stablecoins rather than altcoins.

This macro backdrop may make it difficult for Cosmos to stage a sustained rebound until market conditions improve. Use proper risk management if $8.50 support fails. Upside appears limited short-term without altcoin strength returning.

crypto-traders-utilize-automated-bots-or-manual-trading">Should Crypto Traders Utilize Automated Bots or Manual Trading?

There are pros and cons to using trading bots versus manual trading in crypto:

  • Bots - Emotionless 24/7 trading. React instantly to opportunities. Implement quantitative strategies.
  • Manual - Ability to incorporate human insight/judgement. Adjust to changing conditions. Prevent over-optimization.

In reality, the best approach is likely combining bots and manual trading:

  • Bots efficient for formulaic strategies on very short timeframes.
  • Manual better for discretionary trading on higher timeframes.
  • Automate rote tasks while maintaining human oversight.

Blending the precision of bots with human intuition allows crypto traders to benefit from the strengths of each approach.

Will Expanding Crypto Regulation Help or Hurt the Market Long-Term?

There are arguments on both sides of increasing crypto regulation:

  • Help - Provides legitimacy for mainstream adoption. Protects consumers from fraud. Offers legal clarity.
  • Hurt - Stifles innovation with bureaucracy. Significant compliance costs. Undermines decentralization principles.

The fair perspective is judicious regulation enables growth while protecting participants:

  • Reasonable guardrails still permit innovation.
  • Thoughtful rules attract institutional investment safely.
  • Compliance costs manageable relative to the benefits.
  • Decentralization remains largely intact.

Therefore, well-crafted crypto regulation that nurtures innovation while shielding consumers will likely prove a net positive for the market over the long-run.

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Multipool Enters Strategic Partnership with Tokinvest Delivering Next-Level Tokenized Real-World Asset Trading

Multipool Enters Strategic Partnership with Tokinvest Delivering Next-Level Tokenized Real-World Asset Trading

Majuro, Marshall Islands, July 16th, 2024, Chainwire Multipool, a leading innovator in the blockchain and cryptocurrency industry announces strategic partnership with Tokinvest with the goal of transforming tokenized real-world asset trading. This partnership aims to take real-world asset (RWA) trading to the next level with an end-to-end dual market solution

By John Williams